Jens Heidenreich
The holdback is the retention of the insurance company to its distribution partners, to protect themselves against claims losses in the cancellation. Normally increases with each new Commission claim, subject to a liability that the holdback, and with any early termination, the paid closing costs recovered by the intermediary. The insurer remains always intact, rather transfers risk to the client and the broker. The termination of insurance contracts appears for the insurance industry rather the norm to be the exception. Experts say that at least 70 per cent of all contracts be resolved ahead of time. Due to the mostly low buy-back value of life insurance policies or annuities, many euro lost the insured upon termination.
In the particular case of unemployment, many seem “Citizens to act prematurely because they think that the valuable assets from life insurance in any case, for example, the income from Hartz IV” is applied. This is so wrong. Although all contracts are subject to, before the actual expiration or retirement usable (i.e. cancelled) are the so-called recoverable assets. These include conventional”capital forming life insurance.
You belong with their time value (buyback) to realisable assets, because there is a right to terminate the contract according to the conditions. You can check these free of charge on. Contracts, whose recycling would be uneconomic or would represent a special hardship for those affected are an exception however,”explains Jens Heidenreich project-LV doctor. The exploitation of a life insurance policy, whose buy-back value is more than 10% below the sum of paid-up contributions is considered to be uneconomical. It is to assume the guaranteed buy-back value. We believe that this applies to the majority of insurance companies, because surveys by LV doctor show that many life insurance companies not even after ten years and more the contributions refund. Rather, it is the rule that the must hang insurance basically up to the proposed expiry date, then to get his contributions and interest, that just balances the loss of inflation”explains the LV-doctor-chef. Life insurance companies cancel, but with LV doctor”, is therefore the motto, explains Jens Heidenreich. LV doctor advocates as a project of the Swiss proConcept AG injured insured. Because the proConcept AG is an international company which specializes in the repair and elimination of scattered damage. We are of the opinion that the surrender values paid by the insurance company when most contracts were calculated incorrectly and therefore, however, proceed,”Heidenreich said. For individuals, this means its a risk perception Interests at the termination and readjusting a life or pension insurance. Also occurs as an often higher redemption value as in a stand-alone termination of life insurance. It is also important to mention that this is possible even for already announced insurance companies.
